Strong Exchequer figures to be published on Monday are expected to show that tax revenues continued booming to the end of 1997. However, the returns are not likely to be as surprising as the last set of "exceptional" quarterly returns for the end of September.

The Minister for Finance, Mr McCreevy, has already given an indication that the Government's finances will no longer be in surplus at the end of the year.

At the time of the Budget - in borrow for the day-to-day running of the country - of £280 million, equivalent to 0.7 per cent of GNP.

Monday's figures are expected to revise that down modestly, providing further proof that the economy is still booming. However, a deficit is still expected. This is in contrast to a surplus of £446 million at the end of November.

One reason for the dramatic turnaround - from a £446 million surplus in November to the official forecast of a deficit of £280 million in December - is the large amount of spending which Mr McCreevy brought forward from 1998 to 1997.

This includes £150 million for An Post and Telecom Eireann pension funds, £100 million for the Small Savings Reserve Fund and early payments for teachers.

Nevertheless, the Exchequer is expected by almost all observers to be in surplus by the end of 1998.

December's figures are expected to show a continuing strong increase in income tax receipts. In addition, indirect taxes are also likely to be buoyant with VAT receipts in particular expected to have increased dramatically over the strong pre-Christmas sales period.